Citing widely held concerns among former Dewey & LeBoeuf partners, the bankrupt law firm's chief restructuring officer said in an e-mail sent to partners Thursday that the deadline for agreeing to a proposed $103.6 million settlement has been bumped two weeks and that revisions to the plan will be announced next week.

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What's being said

This seems like the best deal the partners are going to get. The claw back is the only thing stopping them from facing a string of lawsuits that would surely bankrupt them. The partners no matter how involved are responsible and in this case because of the their lack of involvement but their entitlement to profits. They are responsible so the civil claims would be directed to them.
http://www.legalfunding.com/

Michael

Jul 20, 2012

It's upon the rank and file of the partnership to reject any such settlement so that those truly responsible for the trainwreck will be held liable.

Mattie Appleyard

Jul 20, 2012

Pond scum representing the interests of avaricious sociopaths. Protect the creeps that looted the firm by capping their contribution at a fraction of what they looted, then make all the non-greedy partners that worked and slaved away at the Firm pay for their misdeeds, misjudgments and lack of allegiances. The Chairmen, the Executive Committee, the so-called "stars" who took millions and didn't perform - and now don't want to give much back - have the ear of the bankruptcy scum counsel who are doing their bidding. Makes me want to throw up.

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